End Times and Current Events

General Category => The Economic Collapse => Topic started by: Psalm 51:17 on December 06, 2011, 12:45:04 pm

Title: Watch Australia/New Zealand
Post by: Psalm 51:17 on December 06, 2011, 12:45:04 pm
New Zealand treasury cuts growth forecasts
4 December 2011, by Rebecca Howard - Wellington (MarketWatch)

New Zealand's Treasury Monday cut its growth forecasts for the year ending March 2013 due to the European crisis.

Title: Fitch downgrades Macquarie rating
Post by: Psalm 51:17 on March 13, 2012, 09:31:59 am
Fitch downgrades Macquarie rating
12 March 2012, by Caroline Henshaw - Sydney (MarketWatch)

Fitch Ratings has downgraded its outlook for Australia's largest investment bank.

The ratings agency cut its long-term credit rating on parent company Macquarie Group to A- from A, and for Macquarie Bank to A from A+, warning that returns are likely to "remain subdued" for a number of the bank's units due to its "more volatile earnings profile."

Macquarie "has a reliance on wholesale funding relative to peers," the ratings agency said.

"Although Macquarie manages this exposure well, this reliance, when combined with a more volatile earnings profile relative to that of commercial banks, is better reflected at the new rating levels."

Australia's banks have long been the darling of the financial system thanks to their high levels of capital, but the increasing pressure from the credit crunch in Europe and a possible slowdown in China have brought them onto the radar of the credit agencies.

Fitch said its downgrade reflected the impact of the broader global economy rather than "any developments specific to Macquarie."

It's move follows in the footsteps of sister agency S&P, which last year downgraded all of Australia's largest banks.

Macquarie Group's chief financial officer, Patrick Upfold, said the "new Fitch 'A' rating of MBL, the entity which funds the vast majority of the Group's activities, is in line with S&P's 'A' rating, which was reaffirmed on 1 December 2011."

Title: Australia's RBA lowers growth, inflation forecasts
Post by: Psalm 51:17 on May 04, 2012, 11:34:31 am
Australia's RBA lowers growth, inflation forecasts
3 May 2012, by Enda Curran - Sydney (MarketWatch)

The Reserve Bank of Australia on Friday lowered its growth and inflation forecasts and painted a subdued outlook for the economy, saying growth so far this year has only been modest and varies significantly across the country.

The new forecasts come days after the central bank cut its cash rate target by 50 basis points to 3.75% in its biggest policy move since the 2008-2009 phase of the global financial crisis.

But the bank gave little away on the timing of any next policy easing, saying only that it continues to monitor economic data and will "adjust the cash rate as necessary to foster sustainable growth and low inflation."

Explaining its reasons for Tuesday's big rate cut the RBA said it wants an easing in financial conditions "in order to deliver the appropriate level of borrowing costs" for consumers.

Its latest assessment of the economy covered familiar themes.

The bank again highlighted the impact of the strong Australian dollar--which it doesn't assume will weaken over its forecast period--and cautioned that the outlook for employment remains subdued at best in an economy split between a red-hot mining sector and sluggish conditions elsewhere.

Core inflation is forecast to remain inside its 2%-3% target band through to the end of 2013 reflecting moderate wages growth in a soft jobs market and amid expected improvements in productivity.

Economic growth in year ended terms is expected at 2.75% in June compared with a previous forecast of 3.5% and is expected at 3.0% at year end, down from a February forecast of 3%-3.5%.

Analysts are divided on the bank's next policy move.

Local lenders so far have only partially passed on the RBA's rate cut, something that could force further easing by the central bank in coming months.

On the risks to Australia from global developments, the RBA warned that any sharp ramp up in Europe's crisis could have significant effects on trade demand with Asia, which in turn would hurt commodities prices.

Title: Re: Australia's RBA lowers growth, inflation forecasts
Post by: Psalm 51:17 on May 04, 2012, 11:46:36 am
Chart of the Day: Australian Credit Growth Has Collapsed
3 May 2012, by Edward Harrison (Credit Writedowns)


Source: Nowhere to Grow – Steve Keen’s Debtwatch http://www.debtdeflation.com/blogs/2012/05/02/nowhere-to-grow/

Title: Re: Watch Australia/New Zealand
Post by: Psalm 51:17 on June 13, 2012, 01:51:23 pm
Australia consumer mood downbeat despite rate cut
13 June 2012, by James Glynn - Sydney (MarketWatch)

--Consumer mood hard to budge despite rate cuts

--Global fears a key factor

--Some evidence property back in vogue

Title: Australia has a new Prime Minister
Post by: Christian40 on June 27, 2013, 03:59:10 am
"Kevin Rudd was on Thursday sworn in as Australian Prime Minister for the second time, a day after toppling bitter party rival Julia Gillard, as he appealed for unity with the ruling Labor staring at a likely drubbing in the general election in September.

55-year-old Rudd was sworn in as the country's 28th Prime Minister by Governor-General Quentin Bryce at a short official ceremony at Government House in Canberra, returning back to his role that was taken away from him by Gillard in 2010.

In his first address on Thursday in Parliament, he called on MPs to be a 'little kinder and gentler' with each other.

"Political life is a very hard life, a very hard life indeed," he told Parliament. "Let us all remember particularly on days like this that in this Parliament, and in this place, we are all human beings, we all have families and we all have emotions, so let us try - just try - to be a little kinder and gentler with each other in the further deliberations of this Parliament," he said apparently referring to bickering within his party that led to his showdown with 51-year-old Gillard, the nation's first woman Prime Minister.

Rudd is considered more popular than Gillard, and while the conservative opposition is still expected to win the next election, his leadership may save Labor from a crushing defeat. Rudd has warned that Labor was facing its worst election loss under Gillard in Australian history. But he also paid tribute to Gillard, who he defeated in a caucus ballot yesterday by 57 votes to 45.

"Through the difficult years of minority Government the former Prime Minister has achieved major reforms for our nation that will shape our country's future," Rudd said. "On top of all that, I acknowledge her great work as a standard bearer for women in our country; Australia's first deputy Prime Minister, Australia's first woman as Prime Minister," he said.

Anthony Albanese was formally commissioned as the new Deputy Prime Minister and Chris Bowen as Treasurer. The leadership change comes ahead of the September 14 general elections, which surveys suggest Labor is set to lose. It is unclear whether Rudd will stick to Gillard's schedule of the September election or go for an earlier one.

The earliest date on which Rudd can call an election is August 3. Reacting to the development, Opposition Leader Tony Abbott said politics was a 'tough business, the former Prime Minister should have been dealt with by the Australian people at an election, not by the faceless men in the caucus last night'.

He called on the Prime Minister to explain exactly why Gillard was ousted. "This is a fraught moment in the life of our nation. A Prime Minister has been dragged down, her replacement owes the Australian people and the Australian Parliament an explanation," Abbott said.

Abbott has also demanded Rudd announce his intentions regarding the date of the next election. After losing in the Caucus vote, Gillard said she would also quit politics at the next election."


Title: Re: Watch Australia/New Zealand
Post by: Psalm 51:17 on September 06, 2013, 11:32:37 am
Video: Polls in Australia signal Abbot election win

With hours to go before Australians vote in federal election, polls signal that Liberal National leader Tony Abbot is set to win with a clear majority. Sarah Toms reports.


Margie Abbott open to gay marriage

Opposition Leader Tony Abbott's wife says Australia needs to have a conversation about gay marriage.

Margie Abbott, the woman likely to be the prime minister's wife after Saturday's election, says her opinion on same-sex marriage is "open to discussion".

It's a contrast to the view of her husband, who has ruled out a Liberal party conscience vote on the issue

**Kind of like how George W. Bush was "against" gay marriage, but his wife Laura supported it(as well as abortion)? ::)

"I suppose at the end of the day I think that love, commitment, are things that should be recognised and I think it's a conversation that Australia needs to have," Mrs Abbott told the Nine Network.

"Hopefully going forward that is one that we will have."

But Mrs Abbott said change should be incremental.

"We as a family welcome discussion, we're very open and I think Tony, if nothing else, is a great listener and I think that is a great quality in whatever you do," she said.

Mrs Abbott said her family had embraced Mr Abbott's sister, Christine, who recently announced she is gay.

She also said she had not made up her mind whether to leave her job in early learning if the coalition wins on Saturday.

Title: Re: Watch Australia/New Zealand
Post by: Christian40 on September 06, 2013, 07:31:22 pm
More about Tony Abbott:

"Abbott attended primary school at St Aloysius' College at Milson's Point, before completing his secondary school education at St Ignatius' College, Riverview (both are Jesuit schools)."

"In 1984, aged 26, Abbott entered St Patrick's Seminary, Manly. At high school, Abbott had been taught and influenced by the Jesuits, a Catholic religious order, and nominates Fr. Emmett Costello SJ as a significant mentor. At university, he encountered B. A. Santamaria, a noted Catholic political activist who had led a movement against Communism within the Australian trade union movement and Labor Party a generation earlier. Abbott did not complete his studies at the seminary, leaving the institution in 1987."

"Throughout his time as a student and seminarian, Abbott was writing articles for newspapers and magazines—first for Honi Soit (the Sydney University student newspaper), and later The Catholic Weekly"


And this guy is going to be prime minister of Australia?

Title: Re: Watch Australia/New Zealand
Post by: Psalm 51:17 on September 07, 2013, 11:44:44 am
"In 1984, aged 26, Abbott entered St Patrick's Seminary, Manly. At high school, Abbott had been taught and influenced by the Jesuits, a Catholic religious order, and nominates Fr. Emmett Costello SJ as a significant mentor. At university, he encountered B. A. Santamaria, a noted Catholic political activist who had led a movement against Communism within the Australian trade union movement and Labor Party a generation earlier. Abbott did not complete his studies at the seminary, leaving the institution in 1987."

The whole "battle with communism" was nothing but a puppet show - for the most part, it was Hegelian Dialectic, and to throw fear onto the masses. Both Reagan and Gorbachev were good buddies, believe it or not, and Reagan gave him his own center in San Francisco when all was said and done(and Gorbachev continues to travel around the world making speeches).

Title: Re: Watch Australia/New Zealand
Post by: Psalm 51:17 on September 08, 2013, 04:45:41 pm
Australia to Abandon the U.S. Dollar

April 11, 2013

Australia’s announcement that it is abandoning the U.S. dollar for trade with China is the latest broadside in the global currency war. Starting April 10, Australia and China will no longer use the U.S. dollar for trade between the two nations. For the first time, Australian businesses will be able to conduct trade in Chinese yuan. No more need for U.S. dollar intermediation.

This is a significant announcement and key development for China as it continues its campaign to internationalize the yuan and chip away at the dollar’s role as the world’s reserve currency.

Title: Re: Watch Australia/New Zealand
Post by: Christian40 on February 15, 2014, 04:27:23 am
Australia is being run by the Society of Jesus, or Jesuits, a Roman Catholic Military Order. Prime Minister Tony Abbott (born 1957) was educated at St Ignatius College in the Sydney suburb of Riverview. Coalition cabinet ministers Joe Hockey, Barnaby Joyce and Christopher Pyne were also educated at Jesuit secondary colleges. So was Bill Shorten (born 1967), who attended Xavier College in the Melbourne suburb of Kew. Left/Right, Shorten/Abbott, Thesis/Antithesis, playing opposing roles so no-one who really represents Australians can rise to power. Vatican New World Order in action.

Title: Re: Watch Australia/New Zealand
Post by: Psalm 51:17 on February 09, 2015, 07:55:55 pm
Australian prime minister survives 'near-death experience' party vote
Tony Abbott wins Liberal party vote to stay on as leader and asks for six months to turn around flagging administration


The Australian prime minister, Tony Abbott, has survived a challenge to his leadership, but a revolt by dozens of his own party MPs in a ballot left him badly wounded.

Despite there being no declared alternative candidates in a secret ballot to determine whether the leadership of his ruling Liberal party be declared open, Abbott secured only 61 out of a possible 101 votes.

Nearly two-fifths of his own MPs – 39 of his party colleagues – lodged an effective no-confidence vote against him. The Guardian understands he referred to the episode as a “near-death experience” in the party room after the debate. There was one spoiled ballot.

Abbott asked backbenchers to give him another six months to turn around the government’s fortunes, at which point the issue could be revisited – but insisted he could win the next election, due in 2016.

“I accept that the last few weeks have been difficult weeks for the government. But there have also been difficult weeks for the Australian people, because the people expect and deserve a government which is getting on with the job,” Abbott said in a press conference the afternoon after the vote on the “spill” motion.

“I am confident that have we have put this time behind us and I am confident that, as of today, we are back at work for the people of Australia. I am confident that what we have shown the Australian people is that we have looked over the precipice and we have decided we are not going to go down the Labor party path of a damaged, misguided and dysfunctional government.”

The prime minister held out an olive branch to those who had spoken out in the lead-up to the spill motion, saying he would not hold it against them.

He also appealed to his colleagues to stop briefing the media.

The deputy Liberal leader, Julie Bishop, told the earlier meeting of MPs that the leadership team’s door was open. She knew people had had concerns, including her, but they should not let them fester.

Internal discontent with the direction of the Abbott government had been amplified over the Australian summer break. The Liberal party has fared poorly in recent state elections and Abbott’s blokeish leadership style has rankled voters, particularly women.

But it was the prime minister’s decision to knight Prince Philip that brought the issue to a head. Many saw the gesture – on Australia’s national day – as an insult to a country that harbours deep republican instincts.

As part of his appeasement of MPs, Abbott specifically referred to his decision to have Australian knight and dames awarded by a committee as an example of him consulting.

The most likely contender for the leadership if there had been a spill, the communications minister, Malcolm Turnbull, had refused to formally declare his candidacy.

He was understood to have told supporters he would only take the leadership in response to a demand from his party and he did not want to be seen as an assassin.

But he was clearly put out by Abbott’s decision to bring forward the spill motion by 24 hours, a move that gave the prime ­minister’s opponents less time to organise. He pointedly said rescheduling the meeting for 9am was another of the prime minister’s much-criticised “captain’s calls”.

Turnbull described the Liberal leadership as the gift of the party room. “If for whatever reason the leadership of a political party is vacant then anyone, any member of the party can stand, whether they be a minister or a backbencher, without any disloyalty to the person whose leadership has been declared vacant,” he said in a strong sign of his intentions.

The other key player, Bishop, kept her options open in the lead-up to the spill. She and Turnbull had a lengthy discussions on Sunday at a party fundraiser in Sydney. Coalition MPs had understood the pair would not run against one another but Bishop appeared to be assessing her support.

“I will speak to my colleagues first,” she said on Sunday when asked whether she would run for leadership. “I don’t make announcements through the media.”

Luke Simpkins, a backbencher who had initiated Monday’s vote on Abbott’s future, said after the result was known that he felt a message had been understood by his leadership.

“I think this has been a good wake-up call. The prime minister has taken on board what our concerns have been and we look forward to that being implemented,” he said.